Bob Moore's Blog
Appliances have a certain lifespan of use, and then, unfortunately, they tend to break down one way or another. Depending on the age of the appliance and the amount of the repair cost, you should make an informed decision as to what will be a good for your finances and your home.
So, when the fridge stops producing cold or the dryer stops drying things, you may go into panic mode and try to either buy a new appliance or call a repair person. Before you make a snap judgment, you should take a step back. It’s important to ask the question:
Is it worth getting this repaired?
If you are able to get an estimate of how much the repairs will cost, this will give you a good place to start. This is the fastest way for you to get the answers that you need. If the life of the appliance is going to only be a few years, you may be better off investing your money in a new appliance. The cost of a repair can run somewhere around 20-30 percent of the cost of replacing the appliance completely.
Understand The Life Expectancy Of Each Appliance
Some appliances are meant to last for a decade, others will last for a shorter period of time. As a general rule of thumb, if your appliance is over 7 years old and breaks down, you should probably replace it rather than repair it. It will be a better investment in the long run. Some typical lifespans for appliances are:
- Dishwasher 9 years
- Freezer 13 years
- Range 15 years
- Dryer 13 years
- Washing Machine 10 years
Before you replace your broken appliance, there are a few things you should understand. First, sometimes, it really isn’t broken. A plug could be loose or a circuit could have tripped. You would hate to spend the money on a new appliance rather than deal with a simple problem. Troubleshoot the problem yourself by taking a peek at the owner’s manual first.
Once you have repair estimates, you should find out how much it will be to replace your appliance completely with a similar model. Make sure that you factor in things like the removal of the old appliance, the taxes, and the installation. By running the numbers, you’ll know if you can afford a new appliance or not compared to the repair costs.
If you have been dreaming of a refrigerator with an ice maker, it may be a good decision for you to spring for a new model. If you love the features you have, you’ll want to either price similar units or do the repairs. Really, your budget and needs very much dictate your decision for new appliances. Consider the options and make the repair or replacement call based on your needs.
The bad news about selling your home is that there are dozens of mistakes you might make that could result in a lost sale, unnecessary price reductions, and delays in finding a buyer.
The good news is that the vast majority of seller mistakes are completely avoidable -- especially when you have an experienced real estate agent guiding you through the process and providing you with ongoing advice and marketing assistance.
Pricing and Perception
Setting too high of a price for your home is a common mistake -- one that's often difficult to recover from. Since "the clock is ticking" from the moment your home officially goes on the market, it's important to make the most of those first few weeks.
House hunters are often strongly attracted to homes that are advertised as being "just on the market." Those words can be very compelling because they imply newness, a limited opportunity, and scarcity. As the advertising industry has known for generations, consumers are drawn to products and services that are new, fresh, and in demand. However, just like yesterday's news or day-old bread, the longer a house is on the market, the less appealing it becomes.
According to a Zillow study, homes for sale priced around or slightly below market value are almost 50 percent more likely to sell within 60 days than those priced 12 percent or more above market value.
Working with a knowledgeable real estate professional can help make sure you don't lose that initial out-of-the-gate momentum by pricing yourself out of the market. They'll base their recommendations on a number of factors, including a comparative analysis of recently sold homes in your neighborhood .
Here's a house-selling mistake that most people probably don't know about: You might be losing potential buyers because you've chosen an "odd selling price." The National Association of Realtors points out that listings may sometimes be excluded from Internet search results if the asking price is just a few thousand dollars above a typical pricing range. "Buyers search real estate websites for price ranges, such as 'homes between $250,000- $300,000.' If you set an odd price to make your listing stand out, say $302,499, you may miss some of your best potential customers."
If you realize after a few weeks that you've incorrectly priced your house, it not only becomes necessary to lower the price, but you also have to contend with a lower perceived value among prospective buyers.
A few other words and phrases that tend to whet the appetites of prospects searching for their next home include "move-in condition," "landscaped," and "updated." Many people also like the sound of granite countertops, maple hardwood floors, and gourmet kitchens.
While it pays to know a little about pricing, home staging, and buyer psychology, getting advice and guidance from a seasoned real estate agent is usually your best bet for producing the fastest and most satisfying results in selling your house.
If you’re in the process of moving, you don’t necessarily need to hire a moving company. Hiring movers is only one option of many when it comes to getting your stuff from place to place. If you want to save some money on your move, you should check out alternatives to hiring movers.
If you don’t want to drive your own moving truck, but still could use some assistance on your move, you should take a look at container moving. You fill up the container with all of your stuff, and the company will get the container from place to place for you. This is especially helpful if you are doing a long-distance move.
You can always rent your own truck, pack your own stuff, and head out the door on your own. You’ll pay for gas and mileage, but have control of your own timeframe. Moving companies often have many different resources available to help you in the process including boxes and packing supplies. National companies provide convenient truck returns over most parts of the country where you’ll be, so it’s easy to get the truck back.
Ship Your Stuff
If you happen to be moving a long distance, sometimes, it’s more cost effective to let the big stuff go. Ship items like clothes, books, DVDs, and other personal belongings that can’t easily be replaced. Sell big items like beds and sofas.
You can use many different kinds of shipping services, or even use air cargo to get your things from one place to another. While you’ll need to purchase some furniture when you get to your final destination, this could be a good option, especially if you’re looking to start over, or if you don’t own a whole lot of furniture and large items.
Use Your Car
Your car is always an option to help you move no matter where you are moving to. Whether you’re moving across the country or just across town, you’ll probably need to pack your car. It’s also a lot of fun to have your car for a road trip on long distances. This way, you’ll have a lot of stuff with you, but you can still travel and see many things that you wouldn’t have seen otherwise.
Tips For Packing The Car
You want to be able to get the maximum packing space out of your car for the move, no matter how far you’re going. First, you should plan how you’ll pack ahead of time. You don’t want to save the task of packing the car for moving day. Also, you need to make sure that there will be room for every living thing that needs to go into the car like children and pets. Those are important and you definitely don’t want them all squished in between some boxes during a long move!
As a homebuyer, you likely want to do everything you can to ensure you can seamlessly navigate the property buying journey. Yet problems may arise that hamper your homebuying aspirations. Lucky for you, we're here to help you analyze the property buying journey and ensure you can avoid complications along the way.
Now, let's take a look at three tips to ensure you can minimize the risk of problems as you search for your dream residence.
1. Learn About the Homebuying Journey
There is nothing quite like buying a home. As such, you'll want to do whatever you can to prepare for the property buying journey to ensure you can limit the risk of encountering potential pitfalls.
Oftentimes, it helps to review housing market data related to residences in your preferred cities and towns. This information can help you assess the prices of available houses in your area and find out how long residences typically stay available before they sell. Plus, this housing market data may help you differentiate a buyer's market from a seller's market.
You also should establish realistic homebuying expectations before you enter the real estate market. In some instances, homebuyers require many weeks or months to find the perfect residence. But if you set realistic expectations for the homebuying journey, you may be better equipped than ever before to overcome myriad property buying challenges.
2. Get Pre-Approved for a Mortgage
A mortgage is essential for most homebuyers. If you secure a mortgage before you start your home search, you'll know precisely how much you can spend on a residence. Then, you can narrow your home search accordingly.
It generally won't take long to get pre-approved for a mortgage, either. If you meet with local banks and credit unions, you can review your mortgage options and select a mortgage that complements your finances.
3. Hire a Real Estate Agent
There is no telling what may happen as you pursue your dream residence. However, if you have a real estate agent at your side, you'll be able to prepare for any homebuying challenges that might come your way.
A real estate agent is a homebuying expert who is happy to teach you about all aspects of the housing market. He or she will help you craft a homebuying strategy, as well as respond to your homebuying concerns and questions. Furthermore, a real estate agent will maintain constant communication with you to ensure you can get the homebuying support you need, exactly when you need it.
For homebuyers who want to minimize complications, hiring a real estate agent is crucial. This housing market professional will set up home showings, help you analyze properties and enable you to submit a competitive offer to purchase your dream home. And as your home closing day approaches, a real estate agent will do whatever it takes to help you quickly finalize your house purchase.
Ready to buy a home? Use the aforementioned tips, and you can streamline the property buying cycle.